Market Overview
The global Contract Lifecycle Management Software Market size was valued at USD 2.6 Billion in 2025. It is projected to reach USD 5.7 Billion by 2034, growing at a CAGR of 9.20% between 2026 and 2034. This growth is driven by the increasing complexity of contracts involving multiple stakeholders and dependencies, along with a focus on enhancing productivity and reducing costs through streamlined contract-related tasks.
Study Assumption Years
- Base Year: 2025
- Historical Year/Period: 2020-2025
- Forecast Year/Period: 2026-2034
Contract Lifecycle Management Software Market Key Takeaways
- The global Contract Lifecycle Management Software market size was USD 2.6 Billion in 2025.
- The CAGR for the market is 9.20% during 2026-2034.
- The forecast period covered is from 2026 to 2034.
- The rising complexity of contracts due to regulatory changes and increasing compliance obligations are major growth drivers.
- Integration of artificial intelligence (AI) and machine learning (ML) technologies in CLM software is boosting automation and decision-making.
- Cloud-based deployment accounts for the largest market share owing to its scalability, flexibility, and cost-effectiveness.
- Large enterprises lead in market adoption due to extensive contract portfolios and complex compliance needs.
- Manufacturing is the dominant industry segment using CLM software to manage complex supply chains.
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Market Growth Factors
The growing complexity of contracts as a result of emerging regulations has become a key factor driving growth in the Contract Lifecycle Management Software market․ Companies are increasingly engaging in complex contracts involving multiple parties, variables, and dependencies, creating a need for software solutions to effectively reduce legal risks․ The demand for modern CLM solutions that possess wide-ranging regulatory compliance and risk management capabilities is on the rise․
The CLM market is closely related to the growth of the legal technology market․ Legal spend on technology has increased from 2․6% in 2017 to 3․9% in 2020 and is expected to reach 12% by 2025․ To simplify the management of their contracts, organizations are focusing on investing in CLM software that automates the contract lifecycle from the creation, negotiation, approval workflow, and maintenance of it․
Technological advancements include features in CLM software using artificial intelligence and machine learning to automate tasks such as drafting, reviewing and approving contracts․ Natural Language Processing (NLP) is another software feature that improves the accuracy of extracting data from contracts․ Product releases like Conga's AI-enabled CLM on the Conga Platform, which provides risk mitigation and expedited contracts, point to continued growth in the CLM space․
Market Segmentation
Deployment Model:
- Cloud-Based: Cloud-based CLM solutions constitute the majority of the market share due to their flexibility, scalability, and accessibility, particularly preferred by SMEs for subscription-based, cost-effective models. Easier maintenance and updates reduce IT overhead.
- On-Premises: Traditional deployment where software is installed locally, mainly used by organizations requiring dedicated infrastructure.
CLM Offerings:
- Licensing and Subscription: Hold the largest market share as they provide legal permissions to use software or services and entail regular payments. Effective CLM promotes transparency and accountability in these agreements.
- Services: Includes support and consultancy services related to CLM software deployment and management.
Enterprise Size:
- Large Enterprise: Leading segment characterized by extensive operations, requiring advanced, feature-rich CLM systems to manage vast contract volumes, complex agreements, and compliance. Prioritize scalability and ERP/CRM integration.
- Small and Medium Enterprise: Smaller scale users who benefit from cost-effective, cloud-based solutions.
Industry:
- Automotive
- Electrical and Electronics
- Pharmaceutical
- Retail and E-commerce
- Manufacturing: Dominant segment due to complex supply chains and procurement processes managed with CLM software.
- BFSI (Banking, Financial Services, and Insurance)
- Others
Regional Insights
North America leads the global Contract Lifecycle Management Software market, holding the largest market share. This dominance is attributed to the presence of large enterprises requiring advanced contract management solutions and a robust regulatory landscape including regulations like GDPR and CCPA. Moreover, the increasing adoption of cloud-based CLM solutions offering scalability and accessibility fuels growth. The expansion of e-commerce and retail sectors in the region further elevates demand for efficient supply chain and product lifecycle management.
Recent Developments & News
- June 2024: Conga launched a new Contract Lifecycle Management (CLM) product on the Conga Platform, integrating AI to enhance risk minimization, contract formation speed, and cost reduction.
- January 2024: Evisort introduced Document X-Ray, an AI-powered tool offering unprecedented access to organizational agreements.
- February 2024: IntelAgree released Saige Assist, a generative AI-based CLM tool that redefines company interactions with contracts.
Key Players
- Wolters Kluwer N.V.
- IBM Corporation
- Icertis, Inc.
- SAP SE
- BravoSolution SPA.
- Contracked BV
- Contract Logix, LLC
- Coupa Software Inc
- EASY SOFTWARE AG
- ESM Solutions Corporation
- Great Minds Software, Inc.
- Koch Industries, Inc.
- Ivalua Inc
- Optimus BT
- Oracle Corporation
- Symfact AG
- DocuSign, Inc
- Newgen Software Technologies Limited
- Zycus Infotech Private Limited
- Corcentric LLC (Determine)
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